Global Machine Learning as a Service Market Is Estimated to Grow at a 40% of CAGR by Forecast to 2022

Machine learning as a service refers to a range of services which offer machine learning tools as a part of cloud computing services, these tools include data visualization, APIs, face recognition, natural language processing, predictive analytics and deep learning. The main advantage of machine learning as a service is that customer can get started quickly with machine learning without downloading and installing any software at their end. Machine learning as a servicedelivers developers services which include data modeling APIs, machine learning algorithms, data transformations and predictive analytics.

The increased volume of data and diverse data to be handled qualitatively, are major factors driving the growth of Machine Learning as a Service Market. The innovations in automation technologies and increasing adoption of cloud-based systems is boosting the growth of machine learning as a service market. Apart from it availability of data storage at a cheaper rate and adoption of Internet of Things (IoT) is also driving the Machine Learning as a Service (MLaaS) market. The study indicates that lack the historical data is one of the major restraining factor in the growth of machine learning as a service (MLaaS) market.

The regional analysis of machine learning as a service (MLaaS) market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. The study indicates that North America region would dominate the machine learning as a service (MLaaS) market by the forecast period followed by Europe owing to the major developments in the field of machine learning as a service witnessed in countries such as the U.S. and Canada. The study also indicates that U.S. and Canada are hub of large as well as start-ups vendors in the North America region .The study indicates that Asia-Pacific countries like China, Japan, South Korea, India and others are highly investing in R&D. The study reveals that Asia-Pacific region would show a positive growth in machine learning as a service (MLaaS) market by the forecast period.

Regional analysis for Machine learning as a service (MLaaS) market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in Machine learning as a service (MLaaS) market.

The study indicates that North America region has high technological developments and high adoption of internet of things (IoT) this has resulted in the growth of Machine learning as a service (MLaaS) market in North America region. The study reveals that Asia-Pacific region is expected to show a significant growth in Machine learning as a service (MLaaS) market by the forecast period. Asia-Pacific countries like China, India and Korea are investing in internet of things.

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